Global Standard for Procurement and Supply

Current segment

Level: Advanced Professional

Theme: Sourcing

Segment 6.10 Evaluating and Advising on Risks in Strategic Procurement and Supply

Segment 6.10 Evaluating and Advising on Risks in Strategic Procurement and Supply

Knowledge: Will know and understand Capabilities: Will be able to

The impacts of risks on the reputation of organisations

Develop approaches to mitigate the impact of the supply chain that could adversely affect the reputation of the organisation and contribute to the use of risk pathways by the organisation

The impact of supply chain disruptors and supply chain resilience

Develop approaches to mitigate supply risks and create resilience in supply chains

Sourcing decisions in supply chains and the sourcing of rare earth commodities and other bottleneck items

Develop and implement appropriate sourcing strategies for rare earth commodities and other bottleneck items

The use of risk assessments and approaches to manage risks in sourcing plans

Take calculated risks in the development and implementation of sourcing plans to deliver innovative solutions for the organisation, and assign risks to the party best placed to manage them

The main implications of globalisation on supply chain management and their bearing on risk, such as:

  • Global logistics
  • Supply chain disruptors
  • Ethical sourcing
  • The local versus global dilemma

Monitor and evaluate aspects of globalisation that affect the organisation's supply chains and advise colleagues and strategic stakeholders about actions that can be taken to mitigate risks

Emerging risks, such as cyber security, disruptive technologies, counterfeiting and fraud

Develop and communicate an assessment of risks and use intelligence and alerts to manage emerging risks from external influences, such as cyber security, disruptive technologies, counterfeiting and fraud

The impact of key legislation and regulations impacting on competition law, licensing, documentation, tariffs and duties on imports, and applicable law for international contracts

Monitor and evaluate developments in legal requirements and regulations that affect sourcing decisions in supply chains, and advise colleagues and strategic stakeholders on actions that can be taken to mitigate risks

The use of insurance for protection against risks in supply chains, including business interruption, credit protection, import and export, public and employers' liability, and professional indemnity

Develop and implement approaches to mitigate financial risks that impact supply chains through the use of appropriate insurance arrangements

The development of risk management frameworks such as Enterprise Risk Management (ERM)

Support the adoption and use of frameworks such as ERM to mitigate risks in the supply chain

The use of international standards for risk management

Support the adoption and use of standards that mitigate risks in the supply chainĀ 

The risk appetite of the organisation

Research market, and own organisations position on risk and quantify risks providing recommendations to internal stakeholders

Mechanisms for recording, managing and allocating the ownership of risks

Monitor risk management registers and other associated mechanisms and facilitate appropriate actions to minimise supply chain disruption and cost

Knowledge: Will know and understand

The impacts of risks on the reputation of organisations

Capabilities: Will be able to

Develop approaches to mitigate the impact of the supply chain that could adversely affect the reputation of the organisation and contribute to the use of risk pathways by the organisation

Knowledge: Will know and understand

The impact of supply chain disruptors and supply chain resilience

Capabilities: Will be able to

Develop approaches to mitigate supply risks and create resilience in supply chains

Knowledge: Will know and understand

Sourcing decisions in supply chains and the sourcing of rare earth commodities and other bottleneck items

Capabilities: Will be able to

Develop and implement appropriate sourcing strategies for rare earth commodities and other bottleneck items

Knowledge: Will know and understand

The use of risk assessments and approaches to manage risks in sourcing plans

Capabilities: Will be able to

Take calculated risks in the development and implementation of sourcing plans to deliver innovative solutions for the organisation, and assign risks to the party best placed to manage them

Knowledge: Will know and understand

The main implications of globalisation on supply chain management and their bearing on risk, such as:

  • Global logistics
  • Supply chain disruptors
  • Ethical sourcing
  • The local versus global dilemma
Capabilities: Will be able to

Monitor and evaluate aspects of globalisation that affect the organisation's supply chains and advise colleagues and strategic stakeholders about actions that can be taken to mitigate risks

Knowledge: Will know and understand

Emerging risks, such as cyber security, disruptive technologies, counterfeiting and fraud

Capabilities: Will be able to

Develop and communicate an assessment of risks and use intelligence and alerts to manage emerging risks from external influences, such as cyber security, disruptive technologies, counterfeiting and fraud

Knowledge: Will know and understand

The impact of key legislation and regulations impacting on competition law, licensing, documentation, tariffs and duties on imports, and applicable law for international contracts

Capabilities: Will be able to

Monitor and evaluate developments in legal requirements and regulations that affect sourcing decisions in supply chains, and advise colleagues and strategic stakeholders on actions that can be taken to mitigate risks

Knowledge: Will know and understand

The use of insurance for protection against risks in supply chains, including business interruption, credit protection, import and export, public and employers' liability, and professional indemnity

Capabilities: Will be able to

Develop and implement approaches to mitigate financial risks that impact supply chains through the use of appropriate insurance arrangements

Knowledge: Will know and understand

The development of risk management frameworks such as Enterprise Risk Management (ERM)

Capabilities: Will be able to

Support the adoption and use of frameworks such as ERM to mitigate risks in the supply chain

Knowledge: Will know and understand

The use of international standards for risk management

Capabilities: Will be able to

Support the adoption and use of standards that mitigate risks in the supply chainĀ 

Knowledge: Will know and understand

The risk appetite of the organisation

Capabilities: Will be able to

Research market, and own organisations position on risk and quantify risks providing recommendations to internal stakeholders

Knowledge: Will know and understand

Mechanisms for recording, managing and allocating the ownership of risks

Capabilities: Will be able to

Monitor risk management registers and other associated mechanisms and facilitate appropriate actions to minimise supply chain disruption and cost

This segment was last updated on: 21st May 2021

The Global Standard for Procurement and Supply structure

Released in 2014 the Standard is a competency framework of procurement and supply skills, knowledge and capabilities that can be used by individuals and organisations to identity training and professional development needs at varying levels of competency.

The Global Standard for Procurement and Supply structure
×